Dependent on inflation expectations
What will affect investor sentiment in 2016?
In the second part of this special Big Question feature, investors and managers explain their portfolio positioning during a tough start to the year.
The US Federal Reserve's decision to raise interest rates at the end of 2015 marks a new phase for markets in the post-2008 recovery,writes Mark Harris, head of multi asset at City Financial.
Was it hopes disappointed, or simply more of the same? Or both? 2015 continued to be characterised by what is widely perceived as 'dull world growth', writes Cazenove Capital CIO Richard Jeffrey.
Following the long awaited interest rate rise in the US last month, the Federal Reserve might be under less pressure to raise rates over the coming months.